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Crowdsourced Channel Innovation
Leveraging the collective input of customers, employees, and other stakeholders to co-create or refine channel strategies, ensuring they are closely aligned with market needs.
Implications
The process of leveraging the collective ideas and contributions of a large group of people, often customers or external partners, to develop new sales or distribution channels.
Example
Example: A beverage company uses crowdsourced channel innovation by inviting customers to suggest and vote on new ways to distribute its products, leading to the introduction of vending machines in public spaces.
Related Terms
Different from traditional channel development, which is typically done in-house, crowdsourced innovation involves external input and collaboration.
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